Governor Orr speaking at the Reserve Bank of New Zealand Monetary Policy Statement media conference.
He is sounding a little less hawkish than the Statement.
Q&A:
- will take time for domestic inflation to decline
- economy has lower potential growth rate, unsure if that is temporary
- have limited upside room for inflation surprises
- pleased that inflation expectations are falling, need to fall further
- OCR track is a central projections, not an absolute predicition
NZD/USD has dribbled lower during the press conference. Orr not nearly as hawkish as the Statement was read earlier.
![rbnz orr media conference 22 May 2024 2](https://images.forexlive.com/images/rbnz%20orr%20media%20conference%2022%20May%202024_id_d5e7e891-90fa-4cec-a357-64c91b1023eb_original.jpg)